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Instacart price target lowered to $54 from $58 at Seaport Research

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Seaport Research lowered the firm’s price target on Instacart (CART) to $54 from $58 and keeps a Buy rating on the shares. The firm bases its thesis on the company on: massive grocery total addressable market increasingly shifting online; there are clear leaders in online groceries in the U.S.; and it offers a strong value proposition, the analyst tells investors.

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